500 Pesetas

Banco de España turned to the American Bank Note Company for this series at a moment when domestic printing capacity was considered inadequate for the security demands of high-denomination notes. ABNC's New York workshops were then producing paper currency for governments across Latin America and beyond — Spain was simply one more client in a well-established transatlantic business.

Juan Francisco Camacho, one of the three signatories, had served as Minister of Finance under the Restoration government and was a principal architect of the 1874 decree that gave Banco de España its monopoly on note issue. His signature appearing on this note a decade later is a small biographical footnote worth registering.